Central Bank of Egypt
 | |
| Headquarters | Cairo |
|---|---|
| Coordinates | 30°03′16.9″N 31°14′48.0″E / 30.054694°N 31.246667°E |
| Established | 1898[1] |
| Ownership | 100% state ownership[2] |
| Governor | Tarek Amer |
| Central bank of | Egypt |
| Currency | Egyptian Pound EGP (ISO 4217) |
| Reserves | 38 450 million USD[2] |
| Bank rate | 9.75%[3] |
| Interest on reserves | 8.75%[3] |
| Website | www.cbe.org.eg |
The Central Bank of Egypt (CBE; Arabic: البنك المركزي المصري) is the central bank and monetary authority of Arab Republic of Egypt.
Currency[]
Since the trading of gold and silver coins in Egypt and until 1834, there was no one unit of currency to unify the country. In 1834, a decree was realised stating the forging of an Egyptian currency based on the two metals (gold and silver). In accordance with said decree, the minting of a currency in the shape of gold and silver Riyals began. In 1836, the Egyptian Pound was first introduced and it became open for public use.[4]
The bank floated [5] the Egyptian Pound [5][6] during the morning of [6] the 13th of November 2016.[5]
Functions[]
Its functions include
- Regulates banks and the banking system of Egypt;
- Formulates and implements Egypt's banking policy, monetary policy and credit policy;
- Issues banknotes;
- Manages gold and the foreign exchange reserves of the Arab Republic of Egypt
- Regulates and manages Egypt's presence in the foreign exchange market;
- Supervises the national payments system;
- Manages Egypt's public and private external debt.
List of governors[]
Following is a list of the Governors of the Central Bank of Egypt: [7]
| Name | Took office | Left office |
|---|---|---|
| Sir Elwin Palmer | August 1898 | January 1906 |
| Sir | June 1906 | February 1921 |
| Sir | March 1921 | February 1931 |
| Sir | March 1931 | October 1940 |
| Sir Norman Nixon | October 1940 | April 1946 |
| Sir Frederick Leith-Ross | May 1946 | April 1951 |
| May 1951 | April 1952 | |
| May 1952 | March 1955 | |
| March 1956 | July 1957 | |
| November 1957 | March 1960 | |
| March 1960 | March 1964 | |
| March 1964 | February 1967 | |
| February 1967 | January 1971 | |
| February 1971 | March 1976 | |
| March 1976 | January 1982 | |
| February 1982 | March 1985 | |
| March 1985 | November 1986 | |
| November 1986 | October 1993 | |
| October 1993 | October 2001 | |
| October 2001 | November 2003 | |
| Farouk El-Okdah | December 2003 | February 2013 |
| February 2013 | November 2015 | |
| November 2015 | Present |
See also[]
References[]
- ^ http://www.bcl.lu/fr/publications/autres_publications/brochure_2008.pdf
- ^ Jump up to: a b https://d-nb.info/1138787981/34
- ^ Jump up to: a b "Press Release". Central Bank of Egypt. 2019-03-28. Retrieved 2019-03-31.
- ^ "نبذة تاريخية" (in Arabic). Central Bank of Egypt. Retrieved 28 June 2019.
- ^ Jump up to: a b c Hossam Mounir (November 2, 2017) — Flotation was boldest decision in history of Egyptian economic, banking sectors, published by Daily News Egypt - accessed 2020-02-14
- ^ Jump up to: a b The EGP Devaluation: A new beginning, published by PwC - accessed 2020-02-14
- ^ "CBE Governors". www.cbe.org.eg. Retrieved 2019-03-31.
External links[]
Coordinates: 30°03′29″N 31°14′03″E / 30.0581°N 31.2343°E
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